In 2008-2009, Bank of America publicly took $45 billion in TARP bailout funds and secretly took another $91 billion in emergency Fed loans. According to Bloomberg, it made $1.5 billion in profits off of those loans.
Now it is moving $22 trillion in dangerous derivatives out of its Merrill Lynch subsidiary into its FDIC-insured bank.
We are done with bailouts of the big banks.
You told us that the Dodd-Frank Wall Street reform bill would end the bank bailouts. You promised us that Dodd-Frank would give regulators all the power they needed to break up the big banks. Now its time to live up to your promises.
Banks that are too big to fail are too big to exist.